TechCrunch | May 1, 2026 4:06 PM PDT

Amjad Masad has been building Replit for a decade, but the last 18 months have been something else entirely. The AI coding assistant company went from $2.8 million in revenue in all of 2024 to tracking toward what Masad describes as a billion-dollar annual run rate. At TechCrunch's sold-out StrictlyVC event in San Francisco on Thursday night, the company covered a lot of ground. On the question of independence amid reports that rival Cursor is in talks to be acquired by SpaceX for $60 billion, Masad was firm. Unlike Cursor, which he said has been operating at negative 23% gross margins, he argued Replit has the economics to make independence viable. The company also discussed Replit's net revenue retention -- a measure of how much existing customers expand their spending -- which Masad says is reaching as high as 300%, his willingness to take Apple to court over what he called outright lies in its App Store battle with Replit, and the possibility of the company beginning to invest in its own customers. On the question of independence, Masad was firm. Unlike Cursor, which he said has been operating at negative 23% gross margins, he argued Replit has the economics to make that path viable -- even if he stopped short of ruling out a sale entirely.

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